PREMIUM EVENT FEE definition
PREMIUM EVENT FEE is a fully earned, non-refundable fee of Twenty-Thousand Dollars ($20,000.00), due on the date of the Premium Event.
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Related to PREMIUM EVENT FEE
Premium Payment Date in respect of any Option, means the date on which the Premium is due and payable, as agreed to at the time the Option is entered into, as evidenced in a Confirmation.
Event Date shall have the meaning set forth in Section 2(d).
Default Fee means with respect to any amount due and payable by Seller in respect of any Aggregate Unpaids, an amount equal to the greater of (i) $1000 and (ii) interest on any such unpaid Aggregate Unpaids at a rate per annum equal to 2% above the Prime Rate.
Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.
Premium Due Date means date specified in the Schedule on which the Instalment Premium will become due.